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USDCAD poised to challenge next support

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    An unexpected jump in Crude Oil inventories (It influences the price of petroleum products that affects both growth and inflation) had a small impact on USDCAD yesterday as gains were limited and the pair continued to tank during US session. The USDCAD is technically bearish and we can see a strong POC at 1.3465-80 (H4, X cross, EMA89, the channel top) that we can use for possible short trades. However the price is showing sellers in now moment (green rectangle) and we could see an immediate

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